Macroeconomic Forecast Colombia

November 2006 | Macroeconomic Forecasts

The Colombian economy is still firing on all cylinders according to latest figures. Industrial production (excluding coffee output) increased by a robust 14.9% y-o-y, representing the highest monthly rise since March 2003. Output was largely driven by a surge in non-metal commodities (up by 45.5% y-o-y) and a booming automobile sector (which increased by 44.1% y-o-y). The industrial boom comes on the back of buoyant consumer demand, with retail sales climbing by a six-year high of 19.3% y-o-y in September. Against this backdrop, we believe there is upside risk to our end-2006 real GDP growth forecast of 5.2%.

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